Clean Harbors soars after reporting Q3 results

NEW YORK (CBS.MW) - Clean Harbors
clhb
was catapulted up $2.55, or 61 percent, to $6.75, and was the biggest percentage gainer among Nasdaq National Market stocks, after the provider of hazardous waste management services reported a narrower than expected third-quarter loss, and said in a regulatory filing that a reclassification of certain non-cash items will increase previously reported cash flow. For the quarter ending September, the loss per diluted share was 9 cents, vs. a year-earlier loss of $2.76 amid "strong" expense controls, while the two analysts surveyed by Reuters Research had expected a loss of 25 cents, on average. Investors appeared to ignore the fact that revenue, which rose 81 percent to $151.1 million, missed expectations, and that the company lowered its full-year revenue forecast to $615 million to $620 million from $630 million to $660 million.

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